The UAE Cabinet, presided over by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the federal budget for the years 2027-2029 with a total of AED292.5 billion ($54.7 billion), up 28.3% over the previous three years, said a report.
Of the 2027 budget, the Cabinet allocated AED34.6 billion (38.4%) to Social Development and Pensions, AED29.1 billion (32.3%) to Government Affairs, AED17.8 billion (19.7%) to Federal Expenses, AED5.6 billion (6.2%) to Financial Assets and Financial Investments, and AED3 billion (3.4%) to Infrastructure and Economic Resources, reported state news agency Wam.
Main sectors covered by the new federal budget include community protection and safety; the economy of the future; future-oriented education; employment and empowerment; health and quality of life; leadership, government affairs, and international relations; as well as industry, technology, energy, infrastructure, culture, media, and sports.
The federal budget for the 2027 fiscal year was approved with estimated total expenditures of AED90.1 billion, as part of the budget plan for the years 2027–2029, it stated.
Chairing the cabinet, Sheikh Mohammed said: "Today, we approved the Federal General Budget for 2027 to 2029 with total expenditures of AED292.5 billion, up 28.3% on the previous three years, and the 2027 budget with expenditures of AED90.1 billion.
"Our priorities are fixed and have not changed: education, health, housing, social services, and the quality of life and stability of our citizens. Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, we will keep consolidating our gains, protecting our achievements and working to build the best life," he stated.
The federal general budget for the years 2027-2029 embodies the UAE's commitment to long-term sustainable financial planning, enhancing the efficiency of resource management and directing spending towards the sectors most closely linked to national priorities.
The UAE government approach ensures the continuity of implementation of strategic projects and programmes, and supports the achievement of the country's development, economic and social goals, said the Wam report..
The approval of the budget confirms the UAE government’s keenness to achieve a balance between current development requirements and investment in future opportunities and to establish a government financial system characterised by flexibility, efficiency and sustainability. It supports the continuation of the comprehensive development process and enhances the UAE’s position among the most advanced and prosperous countries in the world, it added.
